gender pay gap
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Agencies & People
Estate agency has the fourth biggest gender pay gap in the UK
Estate agency is one of the UK’s worst performing industries for the gender pay gap, new research reveals.
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Latest property news
Savills slammed for ongoing 43% gap between male and female pay
Industry is better than many other industry's but still women are paid 11% less on average than their male counterparts.
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Latest property news
Revealed: How the gender pay gap impacts property buying power
Research from Mashroom has uncovered that the gender pay gap means women struggle more than men when renting and buying property.
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Latest property news
Industry must face up to the gender gap, says leading estate agent
The good intentions around International Women's Day will mean nothing if agency leaders limit their definition of success to 'willy waving' sales metrics.
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Latest property news
RICS/Macdonald & Company Salary Survey 2019
Gender pay gap disappears for those starting their career in property but it’s still an issue at senior level.
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Latest property news
Gender pay gap: Savills says women are paid 37% less than men within its UK operation
Savills has become the first UK estate agent to break cover and publish its gender pay gap data under the government’s new reporting requirements. From this year, any organisation with more than 250 employees is required by law to report and publish their gender pay gap data by 5th April each year. Excluding its City trading arm, the median gender pay gap at Savills is currently 37% while the median bonus gap is 69%. And more men than women receive bonuses in the UK – 88% of male employees compared to 80% of female ones. This, CEO Mark Ridley (pictured, left) says, is largely down to the industry’s track record, which has “historically attracted fewer women than men, with the result that there are now more men than women at a senior level”. “Addressing this imbalance is a key focus for Savills UK and we believe that we have made significant progress over the last few years to improve diversity in our business.” One key achievement for the company is its ‘return to work coaching programme’ which has seen the ratio of women returning to Savills after maternity leave increase from 10% to 95% since 2015. Mark also says its…
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Latest property news
Larger agencies to report on gender pay gap by April 2018
Estate agency firms with more than 250 employees must publish detailed data about their gender pay gap by April 2018, the government has announced. The new rules will ask companies to look at their workforce from several points of view to ensure men and women are paid the same for doing the same job. This includes details of the median male and female earners within the company, and also taking into account the pay gap within different pay levels within the business, important the government says because many women tend to do lower paid jobs within companies. Agents will also have to publish details of the proportion of male and female earners across an organisation, to pin point where women’s progress may have “stalled”. The new regulations also cover bonuses, as well as salary. “We have more women in work, more women-led businesses than ever before and the highest proportion of women on the boards of our biggest companies,” says Justine Greening, Minister for Women and Equalities (pictured, left). “This has helped us to narrow the gender pay gap to a record 18.1 per cent – but we want to eliminate it completely. “Helping women to reach their full potential…
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Latest property news
Gender pay gap narrows among estate agency employees
The gender pay gap between men and women’s pay within the property industry has narrowed significantly to 14.3%, down from 18.1% a year ago and 27.5% in 1997 when the government first started collecting figures. Out of the main 20 employment sectors property now possesses the 13th lowest gender pay gap. The three worst sectors are financial and insurance services (37.4%), energy workers (28.1%) and teachers (26.7%). Overall the UK gender pay gap is now 18.1%, the lowest on record and down from an average of 27.5% in 1997. “No woman should be held back just because of her gender,” says Justine Greening, Minister for Women and Equalities (pictured, left). “The changes we’ve made so that men and women can share their parental leave, the support we’re giving to get more women into the top jobs at our biggest companies and our drive to get more girls taking STEM [science, technology, engineering and maths] subjects at school are all helping to reduce this gap.” But the figures for the property industry mask one uncomfortable truth – the gender gap is worse among part-time workers, who are a significant part of the workforce for many agents. The government figures show that…
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Agencies & People
Female property professionals lag behind on pay
There can be no doubting the advances that women have made in recent years when it comes to professional development within the property sector, but when it comes pay, it is hard to get away from the fact that they earn less. The largest and most comprehensive salary survey of 7,466 UK surveying professionals, conducted online between December 2015 and January 2016 by the RICS and Macdonald & Company, has revealed that women starting out in property are hardest hit by the gender pay gap. Salaries of UK surveying professionals are now at their highest in nine years following an average year-on-year rise of 7.1 per cent in 2016, but the gender pay gap for new entrants now stands at an astonishing 28.7 per cent. Overall, the gender pay gap continues with male property professionals earning £57,509 pa, which is £7,000 more than on average than female counterparts at £45,689. While this gap has closed slightly, from 27 per cent last year to 25.9 per cent in 2016, the discrepancy is evident across all age groups and is most acute for those aged between 18 and 22. Those working in Greater London continue to earn, on average, the most at…
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